Vladimír Urbánek (Kurzy.cz)
Markets  |  April 03, 2013 14:16:52

Who are the winners and losers of the Cyprus crisis


On Thursday before Easter for the first time after nearly two weeks of open Cyprus bank. Were closed due to fears of mass withdrawals or massive transfer abroad. Even after this date, however, on the island there are strict measures with the task of preventing spillover of capital abroad. Citizens can choose cash only 300 euros a day and can not leave the country with a greater amount of 3000 euros in cash. Credit card goes to Cyprus to pay unlimited abroad is true for Cyprus credit card monthly limit of € 5,000.Cyprus and in this crisis has curtailed one of the basic pillars of the European Union: the free movement of capital. As a result, this leads to the devaluation of the currency of Cyprus and Cyprus directions out of the eurozone.   As noted by economist Tyler Cowen: "Cyprus thus leaving the euro, but maintains that the word" euro "in order to save face. What now about the price of one euro in Cyprus Bank and the German bank? "

"The winner of the Cyprus crisis and those who diversify their cash and bet on one card, cash in bank deposits. Although the price of gold is currently responding to messages from Cyprus to significant growth, as in previous periods, but in the first days after the closure of banks jumped over the limit 1600 USD per ounce. The people of Cyprus to the introduction of capital controls hard gold (if invested in it) saved the life of savings. The government simply did not reach him, "says Kamil Kresta, manager ČM AURUM, investment portal Czech Mint.

Kamil Kresta
Manager ČM AURUM (Czech Mint)
www.cm-aurum.cz

Czech Mint based in Jablonec its formation followed the long tradition of coinage in Bohemia, Moravia and Silesia. Czech coins produced since 1993 by the end of 1994 set off all the existing silver and gold coins since 1996 and also all circulating coins of the Czech Republic issued by the Czech National Bank. It develops its own production of coins and medals, it also deals with the distribution of gold bullion investment. In October 2012 launched his own investment portalČM AURUM.

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